
16-Feb-2024
Contact: Roy Kouwenberg
Contact email: roy.kou@mahidol.ac.th

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GENERAL INFORMATION
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Dataset title: Ambiguity Attitudes for Real-World Sources

This Readme file describes how to access the data and replicate the results of the manuscript: 
"Ambiguity Attitudes for Real-World Sources: Field Evidence from a Large Sample of Investors"

Authors: Kanin Anantanasuwong, Roy Kouwenberg, Olivia S. Mitchell, and Kim Peijnenburg 

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INFORMATION ABOUT THE SURVEY MODULE
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We fielded a purpose-built questionnaire to measure ambiguity and risk attitudes in the Centerpanel, a representative 
household survey of about 2,000 respondents administered by Centerdata at Tilburg University in the Netherlands. 

The original questionnaire text in Dutch and an English translation are available 
from the public repository at Harvard dataverse: https://doi.org/10.7910/DVN/PTGPYT

File names:
Questionnaire_RiskAmbiguity_NL_1.0.pdf 
Questionnaire_RiskAmbiguity_ENG_1.0.pdf 

The survey was programmed by Centerdata and they can be contacted for more information 
about how to replicate the implentation of the questionnaire. 

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DATA ACCESS THROUGH CENTERDATA
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The article uses data from the Centerpanel and DNB Household Survey (DHS) by Centerdata at Tilburg University, 
and the terms of use prohibit us from publicly posting the data. 
However, not-for-profit researchers can register at Centerdata to access the DHS for free. 
They then receive full access to our survey data and other DHS modules needed to replicate our results.

1. Register here for access to the Centerdata Savings Survey (CSS) and the DNB Household Survey (DHS) data:
https://www.dhsdata.nl/data-statement

2. Login at the DHS data access webite:
https://www.dhsdata.nl/

3. Browse to the folder "DHS data wave 2018". Then click on "Data AGW module". 
Then download the zipped Stata data file "agw2018en_stata_1.0.zip" 
https://www.dhsdata.nl/data-release-core/releases/browse/51/167ec5336db962da970d53d0979092b90d4f2370

4. Extract the Stata datafile "agw2018en_1.0.dta" from the zip-file,
and save it in a folder on your machine where all data and code for this ambiguity project is stored.

5. On the DHS website, browse to the folder where our ambiguity module dataset is available,
named "Risk and Ambiguity - Kouwenberg and Peijnenburg 2018":
https://www.dhsdata.nl/data-release-core/releases/browse/61
Download the zipped Stata files "CL_RiskAmbiguity_6p_Stata.zip" and "Selectie_RiskAmbiguityp_Stata.zip".

6. Extract the Stata datafiles "CL_RiskAmbiguity_6p.dta" and "Selectie_RiskAmbiguityp.dta" from the zip-files,
and save them in a folder in the same folder as "agw2018en_1.0.dta".

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REPLICATION CODES AND INSTRUCTIONS
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1. Download the replication codes for this paper from the public repository at Harvard dataverse:
https://doi.org/10.7910/DVN/PTGPYT
The file types are: Stata do files. Save the files in the same folder as "agw2018en_1.0.dta".

2. Information about required Stata version and packages: the do codes were written for Stata version 16.
The Stata package "estout"  is used to create formatted tables in Word.
The Stata package "grc1leg" is used to combine multple figures with one legend.
These packages can be installed as follows in Stata:
ssc install estout, replace
net install grc1leg, from( http://www.stata.com/users/vwiggins/)

3. Open the code "AKMP_DHS_WealthDecoder.do" in Stata.
Change the working directory path on line 90 to the folder where the data is located on your machine.

4. Run the entire code "AKMP_DHS_WealthDecoder.do" in Stata.

5. Open the code "AKMP_Ambiguity_CreateVars.do" in Stata.
Change the working directory path on line 28 to the folder where the data is located on your machine.

6. Run the entire code "AKMP_Ambiguity_CreateVars.do" in Stata

7. Open the code "AKMP_Tables.do" in Stata.
Change the working directory path on line 38 to the folder where the data is located on your machine.

8. Run the entire code "AKMP_Tables.do" in Stata.

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OUTPUT GENERATED
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Separate files for the tables and figures with the results shown in the article should now be availabe in the data directory.
Tables: AKMP_Table1.rtf, AKMP_Table2.rtf, AKMP_Table3.rtf, AKMP_Table4.rtf, AKMP_Table5.rtf, AKMP_TableA1.rtf, AKMP_TableB1.rtf
Figure: AKMP_Figure3.png, AKMP_Figure4.png, AKMP_Figure5.png

Note: the code "AKMP_Tables.do" uses the command "estat icc" that is only available in Stata version 16 or higher,
to calculate the intraclass correlation coefficient (ICC) for panel regression models.
This part of the output will not be generated in earlier versions of Stata. 

